RNS Number : 0258B
Vodafone Group Plc
05 October 2020
5 October 2020
UPDATE ON THE MERGER OF BHARTI INFRATEL AND INDUS TOWERS
Vodafone Group Plc ("Vodafone") announced on 1 September 2020 that it had agreed to proceed with the merger of Indus Towers Limited ("Indus Towers") and Bharti Infratel Limited ("Bharti Infratel", together the "Combined Company").
The agreement to proceed was conditional on consent for a security package for the benefit of the Combined Company (the "Security Package") from Vodafone's existing lenders (for the EUR1.3 billion loan utilised to fund Vodafone's contribution to the Vodafone Idea Ltd rights issue in 2019). This consent has now been received. The parties will now approach the National Company Law Tribunal to make the merger scheme effective. The parties are working to complete the transaction expeditiously.
- ends -
For more information, please contact:
Investor Relations Media Relations
Registered Office: Vodafone House, The Connection, Newbury, Berkshire RG14 2FN, England. Registered in England No. 1833679
Vodafone is a leading technology communications company keeping society connected and building a digital future for everyone.
Vodafone is focused on two scaled and differentiated regional platforms in Europe and Africa. We operate mobile and fixed networks in 22 countries and partner with mobile networks in 48 more. As at 30 June 2020 we had over 300m mobile customers, more than 27m fixed broadband customers and over 22m TV customers.
We connect for a better future. We are optimistic about how technology and connectivity can enhance the future and improve people's lives. Through our business, we aim to build a digital society that enhances socio-economic progress, embraces everyone and does not come at the cost of our planet. That is why we have committed to improve one billion lives and halve our environmental impact by 2025.
For more information, please visit: www.vodafone.com .
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact email@example.com or visit www.rns.com.
(END) Dow Jones Newswires